Plenty of research - from sources like GE and Deloitte, to name a few - has shown that range anxiety, or the fear of running out of battery charge in the middle of the road, is one of the biggest factors scaring consumers away from electric vehicles (EVs).

BP reported on Thursday that a catalytic feed hydrotreater unit at its 475,000 barrel-per-day refinery in Texas City, Texas will be shut down for mechanical work, according to a filing to state regulators.

Oil giant BP Plc said it had increased its cost reduction targets for 2009 by 50 percent to $3 billion, as it reported a halving in second quarter profits due to lower oil prices and weaker refining margins.

British oil giant BP agreed to pay $373 million in fines and penalties on Thursday to settle charges related to manipulating U.S. energy markets, a Texas refinery explosion and a pipeline spill in Alaska, according to U.S. prosecutors.

BP reported a 45 percent fall in third-quarter replacement-cost profit to $3.867 billion due to lower oil and gas production, problems at its refining division and fewer asset sales which had flattered the year-earlier result. Though also lower than the same period last year, BP's underlying profits were towards the top end of analysts' forecasts, helped by a lower tax rate.

So, what is going on in the wild, wonderful world of crude? Well, weather-related and supply concerns initially shoved black gold to an early all-time intraday high of $80.12 per barrel after hitting an all-time high of $80.20 in electronic trading. After yesterday's 2.2%, supply driven advance for black gold, we learned that Valero Energy had to shut down a Texas refinery thanks to a power outage from the hurricane in the area. In an email, the company noted that it is not clear how long the outage will last, but the company is mobilizing equipment to assist the refinery. The company did state that production at refineries in Corpus Christi, Houston, and Texas City were not affected by Hurricane Humberto. At last check, oil had pulled back, dropping more than a dollar to $78.29 per barrel.